According to AAA.com, the national average price for gasoline per gallon rose from $2.469 in February 2021 to $3.469 on February 7, 2022. A nearly 41% increase.
The USDA.gov website says food prices rose 6.5% during the same time period, with an expected increase this year of an additional 4.5%.
It feels like the rate of everything is going up. Money just seems to rush out of our bank accounts with seemingly very little we, individually, can do about it.
There is one area, however, that has seen a rise of 79% over the last year, where we can do something to avoid losing money.
The Federal Trade Commission (FTC) recently issued an alert saying scams demanding payment by cryptocurrency had increased dramatically. CNBC.com reported scammers stole a record $14 billion using cryptocurrency last year, an increase over 2020 of 79%.
First, let me say, I am by no means a cryptocurrency expert, but I did find an explanation on the FTC.gov site that helped me with a basic understanding of crypto.
According to the FTC, cryptocurrency is a type of digital currency that generally exists only electronically. Bitcoin and Ethereum are well-known cryptocurrencies, but there are many other brands and more constantly being created. You can buy cryptocurrency through many online exchange platforms, similar to the way you may purchase foreign currencies when traveling abroad, usually using your phone or computer without the shield of an intermediary such as a bank.
You can even buy crypto through…
